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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: PCSS who wrote (81746)	4/26/2000 7:07:00 PM
From: Captain Jack	Read Replies (1) \| Respond to of 97611

Michael-- it looks like we are seeing the results of hiring seasoned, experienced professionals with the news of the last 2 days. They are making cpq look better in days than has been done in years. If the two financial numbers come out decent tomorrow and fears of Uncle Al do not materialize tomorrow could be nice. The wireless IPO from T could help... we shall see!

To: PCSS who wrote (81746)	4/26/2000 7:32:00 PM
From: Captain Jack	Respond to of 97611

Michael-- check the last few sentences... hated to post the entire article but there are some whiners here that complain if the whole thing does appear even though only a slight amount pertains to te subject at hand,, By Frank Sakdalan, BridgeNews New York--April 26--U.S. stocks are expected to take their cue from a pair of key economic reports that may contain signs of inflationary pressure. Analysts point out that the data come out more than two weeks ahead of the Federal Reserve policy meeting. * * * Equities futures wound up lower. S&P 500 futures finished down 2 at 1473, or 4 points above fair value, indicating a mild bullish bent on the close. Nasdaq 100 futures ended down 0.50 at 3527. Fair value is at 3533. US Jun Treasury bonds traded lower by 4/32 at 96 29/32 on the day. The yield on the 30-year cash bond edged up 0.018 to 5.947%, while the rate on the 10-year note inched up 0.013 to 6.130%. On the economic front, the first quarter gross domestic product and the first quarter employment cost index both come out at 0830 ET. Analysts are looking for a 5.9% increase in the GDP and a 0.9% rise in the ECI. Then at 1300 ET Federal Reserve Chairman Alan Greenspan speaks by satellite to a Kansas City Fed conference on rural development. Joseph Barthel, director of investment strategy at Fahnestock & Co., said the sell-off was prompted by "some caution ahead of tomorrow's numbers. There's a little bit of nervousness. People don't want to get too long." He said the employment cost index would help "determine what the Fed will do at its meeting next month." The Federal Open Market Committee will meet May 16 to decide whether further tightening is needed to cool the economy and head off inflation. The FOMC has already raised short-term interest rates by a quarter percentage point five times since June of last year. Some analysts are worried that a persistently strong economy will force the Fed to take an aggressive move by raising interest rates by 50 basis points. Barthel doesn't think there will be a 50-basis-point rate hike. "With a market that's already fragile, it would be devastating," he said. "I look for another 25-basis-point hike, and that's it for the year." Thomas Galvin, market strategist at Donaldson Lufkin & Jenrette, said his firm was "taking a cautious stance" ahead of the twin economic reports. He said the ECI number could come in above expectations "due to high bonus payments in the financials, insurance and real estate components as well as an acceleration in health care benefit costs." But Galvin added: "We continue to believe there is significant cash on the sidelines ready for action following the release of Thursday's data." Just after the close, Amazon.com (AMZN) posted a first-quarter pro forma loss of 35 cents a share, a penny narrower than First Call's view. Companies due to release their quarterly results Thursday include Aetna (AET), American International Group (AIG), Electronic Data Systems (EDS), Kellogg (K), MCI WorldCom (WCOM), Nokia (NOK) and Starbucks (SBUX). The Dow retreated 179.32, or 1.61%, to 10,945.50. Volume on the NYSE was moderate at 987 million shares. Declines edged advances 1,530 to 1,421. The Nasdaq composite pulled back 81.14, or 2.19%, to 3630.09, and the Nasdaq 100 slipped 115.85, or 3.20%, to 3505.71. Volume on the Nasdaq was moderate at 1.5 billion shares. Losers topped winners 2,325 to 1,815. The broadly based Wilshire 5000 also slid back 158.76, or 1.17%, to 13,449.27. Non-block money flow into listed stocks was a solidly bearish $364.3 million. Among NYSE issues, money flowed most into Lucent Technologies (LU), Nortel Networks (NT) and Compaq Computer (CPQ). Funds fled Procter & Gamble (PG), Lowes Cos. (LOW) and Bristol-Myers Squibb (BMY). Leading the market higher were biotechnology, oil service, computer and electronic retailer and industrial power producer issues. Telecommunications, semiconductor equipment, household and investment management stocks slid.